The Executive Bill is seeking among other things to repeal the old Contributory Pension Scheme Law in the State.
It is also seeking to establish a scheme for all Pensionable employees in the public service of the state, employees of Local Government Councils, Tertiary Institutions and all Parastatals established by the State Government.
Presenting the Bill before the House, the Majority Leader, Hon. Martin Chike Amaewhule informed that the scheme shall not apply to any employee who at the commencement of this law is entitled to retirement benefits under any pension scheme existing before the commencement of the Law but has three years or less to retire voluntarily.
He further said that the scheme shall not apply to public and political office holders in accordance with the Rivers State public and political (Amendment) Law (No 2 of 2007).
Hon. Amaewhule further noted that the Bill which has 82 clauses will be cited as Rivers Pension Reform Law 2019 when enacted.
It would be recalled that pensioners in the state have embarked on series of peaceful protests to the State Assembly calling for the repeal of the Contributory Pension Scheme Law of 2012.